“It always amuses me when the market, driven in the short term by the whims and subjective feelings of its uninformed participants, overreacts to bad news and writes a largely successful company off as a dying species,” McMichen writes. “This is exactly what happened over the past 7 months as Apple’s stock plummeted nearly 77% [sic] (from September 2012 to April 2013, pre-release).”
MacDailyNews Note: Apple’s stock declined some 45%, not 77%, over the time period stated. (Thanks to Jersey Trader for the heads up).
McMichen writes, “A 77% drop for a company that has historically proven itself as a leading innovator and competition crusher? A decline that significant for a company such as Apple simply reeked of an undervaluing due to investor overreaction.”
Read more in the full article here.
MacDailyNews Take: The fleecing of the sheep looks to be done this time around. Time for the shearers to turn profits on the wool!
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